I agree that WYNN is still not a buy here. It would take the stock price to slide to the $50-60/share range for my takeover scenario to have any potential of happening.
This is not an assumption. Check out the SEC documents for yourself. Scott Painter has millions of pre-IPO options priced below $3. Your assumption that "his losses are greater than his gains" is simply not correct. And you should know that AutoNation severed its tied with TrueCar a few months ago, so your assumption that "dealers are not going to drop them" is false. Don't throw money at this stock just because it's down 80 percent from the high. The company's business model is seriously flawed, which is why they've yet to turn an operating profit. There are far better places to invest your money right now.
This wouldn't be the first time Steve Wynn lost control of his company when the stock price plummeted. Same thing happened with Mirage Resorts. Bad management led to steep stock declines, which then led to the MGM takeover. History could easily repeat itself here.
He still has millions of pre-IPO options at price points below $3/share. No need for him to buy more at these prices. He's already made a fortune from TRUE stock, and can now comfortably sit on the sidelines while investors lose their shirts.
By any reasonable metric, AAPL stock is grossly undervalued and will continue to be subject to market manipulation. The only way shareholders will see full value is if Apple buys back enough shares to take the company private. Based on Apple's balance sheet and future cash flows, this should be relatively easy for Apple to pull off within the next year or two. As it stands now, Apple should be trading at $150/share, but he market is unfairly portraying it as a $100 stock.
You can put a buy order at any price you like, but that doesn't mean it's gonna get filled!
The company will just continue to burn through its cash until it declares bankruptcy or another company comes along to buy it for pennies on the dollar.
The only question now is whether TRUE will become a penny stock or remain a single digit stock. There's no business model here. Just losses upon losses.
Buying back stock at these bargain basement prices would send a signal to the market that the meltdown is way overdone.
@f_c_eezy4sheezy - $75/share would put the P/E ratio at 8. If you really believe that would represent "fair value" for AAPL, then you are nothing more than an Apple hater and your views should not be taken seriously.
Sad that so many people were duped into believing this company's lies.
He sold investors a bill of goods. Meanwhile, he drives around town in an Aston Martin Rapide!
I probably shouldn't have used the word "foolhardy." It was not respectful. I appreciate the civility of your response.
Basing your decision about TrueCar's future potential and investment worthiness on the fact that they're building new corporate offices is beyond foolhardy. You say that "TrueCar needs some good press." What TrueCar needs is a sound and profitable business model.
I got in at $18 thinking it was a good buy. Feel like a fool now.